Chinese home appliance retailer Gome has published its financial report for the first half of 2009 and states that its net profit decreased by 49.57% year-on-year to CNY580 million. Meanwhile, Gome made revenues of CNY20.463 billion, a year-on-year decrease of 17.73% and a decrease of 2.63% compared with the second half of 2008. However, the company's [...]

It is reported that U.S. private equity firm Bain Capital is to buy a 18% stake in China's electronic retail giant Gome for USD400 million. In addition, Bain Capital will acquire 12% of Gome's HKD4.6 billion convertible bonds at an annual interest rate of 5%. These bonds were issued by Gome in May 2007 and will [...]

After rated among the world's top 250 retailers in 2008, Chinese retailers, including Gome, Bailian Group, Suning, and Dashang, were again entered on the list this year, with their average ratings up 71 places. Published by one of the world's largest accounting firms Deloitte and the authoritative U.S. retail magazine Stores, the list provided the 2009 [...]

The Japan-based TV maker Sharp has signed a CNY1 billion LCD TV supply and marketing contract with Chinese Electrical Appliance retailer Gome at the retailer's headquarters in Beijing. Liu Wei, vice general manager of Sharp, said Sharp would continue to supply Gome. He said that Sharp's LCD TV sets were the biggest seller in the Chinese [...]

Chinese electric appliances retailer Gome has published a notice stating the company has appointed its president Chen Xiao as acting chairman. Gome says it received a formal notice from the Beijing police on November 27, 2008 that confirms Gome's chairman Huang Guangyu is under investigation for economic crimes. In addition, according to information from Gome, its [...]

According to reports in the international press Huang Guangyu, dubbed "the richest man in China", has disappeared and is being sought by the Beijing police. Earlier reports in local media said that Huang Guangyu, president of the Gome Electric Appliance Group, is currently under investigation by Beijing police for market manipulation. Prior to this, reports from Singapore [...]

In response to recent media reports that the Chinese appliances retail giant Gome will enter the TV direct sales market, He Yangqing, a spokesperson for Gome, said the company currently had no plan to enter this business. According to previous local media reports, Gome was planning to invest CNY1 billion to enter China's TV direct sales [...]

In response to recent media reports that the Chinese appliances retail giant Gome will enter the TV direct sales market, He Yangqing, a spokesperson for Gome, said the company currently had no plan to enter this business. According to previous local media reports, Gome was planning to invest CNY1 billion to enter China's TV direct sales [...]

Gome Electrical Appliances Holding Ltd., has achieve an agreement with five shareholders, including Chen Xiao, founder of Yongle and the current president of Gome, to acquire the remaining 10% shares of Yongle (China) Electronics Retail Co. This makes Yongle a wholly-owned subsidiary of Gome. In July 2006, Gome acquired the Hong Kong listed China Paradise Electronics Retail [...]